I am also hoping for the copper price to bottom out and start its way back up in by January 2016 but will not bet on that. Supply constraints have already kicked in and demand has softened IMO due to inventories that remain high. Supply constraints IMO will make a bigger impact in 2016 and expecting to see copper prices starting to change for the positive around August/September 2016. That means another year to sit on the sidelines for some, accumulate for others. Now 2017 will be wonderful IMO especially as the Copper price is expected to remain well above $3/lb and many companies that have had their backs to the walls during 2017 will recommence and ramp up production. All this time good old MNE would have progressed to opening and producing from more mines. A possible scenario is of course that if exploration does find the elusive jackpot under the sand we will certainly be closer to having our own processing facility doing its thing as well.
My Sat morning dribble
Cheers
MNE Price at posting:
0.5¢ Sentiment: Buy Disclosure: Held
